Have CEOs Lost the Plot?

1 day ago 1

ARTICLE AD BOX

Glasshouse Images/Getty Images

Welcome to the HBR Executive Agenda for February 26, 2026.

In this issue:

Have CEOs Lost the Plot?
Friday: HBR Executive Live with LinkedIn CEO Ryan Roslansky
New Benefit: Meet the HBR Interactive Issue

Bill George has spent decades counseling business leaders on how to be authentic. And he’s worried that many have lost their way.

George fostered a mission-driven culture during the 10 years he served as CEO of Medtronic, from 1991 to 2001. He then became a professor and fellow at Harvard Business School, where he has focused on ethical and purpose-driven leadership.

CEOs are struggling to find their footing these days, George says. Their role seemed clearer during Covid, when many executives rose to the challenge of becoming inspirational figures. They led their businesses while guiding their employees through a challenging shared experience. That was the case as well for many U.S. CEOs in 2020 when George Floyd’s murder shocked the nation, and employees looked to their leaders for guidance and assurance.

Times have changed. The past year has seen a backlash against this form of empathetic leadership. That’s been especially true in the field of DEI, where even many diversity champions would acknowledge executional flaws. The Trump administration’s tendency to go after its critics has further prompted many leaders to avoid inserting themselves into social or political issues.

But George says CEOs have become excessively cautious. Many are retreating to the narrowest definition of their roles. They attend meetings, handle email, and keep on top of their duties. But they’re no longer showing up for their employees or customers—and are less effective as a result.

“You need to get out there with your teams and get out there with your customers,” says George. “If you want to inspire people, they need to see your humanity.”

George urges CEOs to free themselves from the tyranny of the workday. HBS’s Michael Porter and Nitin Nohria did a study nearly a decade ago that showed that CEOs spent 72% of their time in meetings. While the data probably needs updating, George is worried that CEOs are once again falling into the meeting trap.

“A lot of CEOs are more comfortable in meetings than when they’re out with people,” he says. “As a result, they don’t really know what’s happening on the front lines, which means they’re less able to make smart business adjustments.”

Who’s doing it right? George cites Christophe Beck, who has spent the past five years as CEO of Ecolab, a U.S. water-treatment company. George says Beck is consistently on the front lines with his teams and that it’s clearly helping his business. Ecolab’s share price recently hit an all-time high.

By contrast, George says, the leadership of Target has struggled. The national backlash against DEI prompted Target to overreact and abandon its commitment to diversity, which had been a core part of its brand. The new CEO, Michael Fiddelke, is now trying to come up with a plan to get Target back on track.

“In an era of AI, we need authentic leaders more than ever,” says George. “We need leaders to show up and have empathy, compassion, and courage—all the things that AI can’t do.”

My exclusive HBR Executive Live conversation with LinkedIn CEO Ryan Roslansky is happening this Friday, Feb. 27, at 1:30 pm EST.

Roslansky will draw from his vantage point at the center of one of the world’s most data-rich platforms to discuss: